A requirement for a perfectly competitive market is that the sellers sell identical products (consumers don't care who makes the products sold in that market). Think about this from the perspective of the seller. What are the benefits of this? What are the drawbacks?

Q: Do you think that conventional fiscal policy is different from islamic fiscal policy?

A: Introduction The term "fiscal policy" describes how the government uses its tax and spending laws to…

Q: 3. Nine years ago, Beatrice invested a sum of $6,000. The interest rate she earned changed over…

A: Future Value is a value of an investment or asset on a specific date in the future, assuming a…

Q: TA 0 MSA A MA MD Ποσότητα Χρήματος

A: The organized market where one can lend or borrow money for the short term is said to be a money…

Q: Question 20 Hide Correct Answer Show Responses Suppose there is a negative output gap of 12 (the…

A: potential output level means that economy is producing at full capacity and beyond that production…

Q: Which would be likely to shift the production possibilities curve to the right? O A decline in the…

A: Production possibility frontier refers to the graph which represents different combinations of two…

Q: The table below shows the parameters for the economy of Hutu. Give your answers to one decimal…

A: Aggregate demand is a term used in macroeconomics to describe the total demand for goods produced…

Q: product Y 60 50 40 30 20 10->> O 0 10 PPF 3 PPF 2 20 30 product X C(c) All exhibit increasing…

A: The production possibility curve refers to the curve that shows the possible quantities that can be…

Q: How do you think globalization might have affected the economy over the past decade? A. Globalism…

A: Q3) Scarcity is defined in economics as the gap between demand of goods and services and supply of…

Q: Suppose the Canadian demand for and the Japanese supply of cars to Canada is shown in the table…

A: In economics when the quantity demanded equals quantity supplied; it is called an equilibrium

Q: Ticketmaster decides to lower the price of Beyonce tickets. This action will most likely result O An…

A: When price decreases, demand for ticket increases. If supply doesn't increase then the shortage…

Q: Currently, Social Security is funded by current taxes. It is projected that in 2024, current taxes…

A: Social Security will be mainly financed through taxes on payroll paid by employees and employers;…

Q: Law of supply states that as the price of a good O increases, suppliers want to supply less of that…

A: Supply is the quantity of a commodity that a seller is willing and able to sell at each possible…

Q: 4. The demand for an individual firm's output depends on the demand for the industry's output, the…

A: The output of a firm refers to the total amount of the goods and services that is produced by the…

Q: 7. An increase in the price level results in a(n) because in the quantity of real GDP demanded A)…

A: Aggregate demand depicts the relationship among level of price and the quantity of real GDP demanded…

Q: In 2014, the San Francisco–Oakland–San Jose CPI was 251.985, while the Los Angeles–Riverside–Orange…

A: An increase in Consumer Price Index (CPI) is an indicator of inflation while a decrease in Consumer…

Q: Fiscal policy of increasing government expenditures can be more potent than monetary policy in…

A: Fiscal and monetary policy: Fiscal policy signifies the policies taken by the government of an…

Q: The economy has part time workers of 20 million people, and full time workers of 140 million people.…

A: The unemployment rate is the percentage of people  in the labour force who are unemployed.  As a…

Q: What is the approximate rate of inflation in year 3?

A: Inflation is the rate of growth of price. It is the percentage change in CPI

Q: Suppose that, in a competitive market without government regulations, the equilibrium price of…

A: Price regulation refers to the control of the price of a good by the government. The government can…

Q: What is the fixed cost? $[ What are the Variable Costs? $[ If the merchandise is very popular among…

A: The fixed cost can be calculated by subtracting the variable cost from the total cost. The variable…

Q: Mexican imports of U.S. goods, this would O Create a supply of pesos O Create a supply of dollars O…

A: In the international market, any exchange of goods and services between the countries will lead to…

Q: The average price of moving and thus, having two tests is: $_____

A: The initial distribution is not a Nash Equilibrium because there is an incentive for a corporation…

Q: 7.4. E.T. In the movie E.T., a trail of Reese's Pieces, one of Hershey's chocolate brands, is used…

A: A notion in game theory known as the Nash Equilibrium basically describes a situation in which each…

Q: Triangular trade means: a. Trade between three continents - Europe, North America, and Africa

A: Triangular trade refers to the trade pattern that existed between three regions during the period of…

Q: When the Price is $35, what is the Qua What is the Price when the Quantity D

A: The demand curve depicts the inverse relationship between price and quantity demanded, keeping other…

Q: QUESTION 11 Wine 90 80 70 60 50 40 30 20 PPF Portugal CPF 10 0 0 10 20 30 40 50 60 cloth (c) 1 yard…

A: Opportunity cost is the cost of producing one good in terms of other.  Opportunity cost shows the…

Q: Subject: Islamic banking & applied finanace Q): What is the application of Istisna?

A: Istisna is a financing technique utilized in Islamic banking, which depends on the standards of…

Q: A consumers utility function is given by U(X, Y)-5XY Which of following bundles would they prefer?…

A: The utility is the wants satisfying power of the good.  The utility is measured in utils.…

Q: The National Government is planning to construct a bridge. At present, a 4-lane bridge will be…

A:

Q: 2. In 1870, the U.S. had an average income of about $2758 and the U.K. of about $3463. In 1999, the…

A: In 1870 US average Income = 2758 and UK Average Income = 3463 In 1999, Average incomes for US and…

Q: Inflation can impose significant costs and adversely distort economic systems. Indicate whether the…

A: Cost refers to the amount of money that is used to manufacture goods and services on the market. A…

Q: A car costs ₱800,000, 4 years ago, and the salvage value is ₱50,000, 6 years from now. If it is to…

A: A sunk cost refers to a cost that has already been incurred and cannot be recovered. It refers to…

Q: 1. The basic aggregate demand and aggregate supply curve model help explain A) fluctuations in real…

A: Aggregate demand can be defined as the total amount that has been spent on the goods and services…

Q: set up the expenditure and the national income equations

A: Expenditure equation: C + I + G + (X-M) = Y National income equation: Y = W + NLP + T - D Where: C =…

Q: Titan fitness makes barbells for crossfitters and wants to determine its break-even point. The total…

A: Introduction When the market price of an asset equals the initial cost, a trade or investment has…

Q: C = 2000 + 0.8Yd; T = 1000 + 0.3Y; G = 6000; TR = 1200; I = 4000 + 0.24Y – 100r; M = 3000 + 0.2Y; X…

A: An economic model called the IS-LM model describes the interaction between the money market and the…

Q: a consumer has a daily income of $96 and purchases just two goods, burgers and sodas. the price of…

A: A budget line shows various combinations of two goods a consumer can purchase by spending all income…

Q: discuss in detail four features of the traditional and continuing features of the Japanese economy ：…

A: The Japanese economy is renowned for its unique characteristics and cultural values, which have…

Q: 1 2 5 3 Peanut Butter 6 4 Printer Paper 7 1. For each of the following events, state which curve…

A: DISCLAIMER  “Since you have asked multiple questions, we will solve the first three questions for…

Q: Harvey quit his job at State University, where he earned $62,000 a year. He figures his…

A: Economic profit is the difference between the total revenue and the explicit and implicit cost.  So…

Q: It may seem as though basic static games are too simple to describe the strategic choices faced by…

A: A static game is played only once simultaneously. A dynamic game is one in which players move…

Q: What is the effect if the cost of labor increases? O Price increases, quantity increases O Price…

A: In a market, labor is considered as a factor of production because it is required to operate…

Q: (e) (Slightly harder) Find a constant c₁ such that f(ni) ≤ cig(ni), where n₁ is defined as in part…

A: a. to prove that f(n) = O(g(n)), we need to find a constant c and a value n0 such that for all n…

Q: Consider two scenarios giving some information about price elasticity of demand. For each scenario,…

A: The increase in the quantity of an item demanded or consumed in accordance to its change in price is…

Q: Which line on the Circle Flow Model best represents Victoria working at the mall? O Line 1 O Line 2…

A: Circular flow of income is used to represent the exchanges taking place between different sectors of…

Q: a.  Derive both the IS and LM equations for the economy and compute the Equilibrium level of Income…

A: A. Deriving the IS and LM Equations: The IS equation can be derived by equating aggregate demand (C…

Q: viting this editorial? Alexi and Tony own a food truck that serves only two items, street tacos and…

A: Output per hour   Street Taco Cuban Sandwiches Alexi 80 20 Tony 100 30

Q: What are the challenges of GLOBALIZATION and how are you going to address them? Give 10 problems…

A: Here are some of the major challenges of globalization: Income inequality: The unequal distribution…

Q: 12) A consumer's preferences are given by U(X,Y)=X0.6y04. The price of X is 4, and the price of Y is…

A: Consumer preferences refer to the wants and needs of consumers, which guide their purchasing…

Q: 1. Use the following goalposts in calculating the HDI. "GOALPOSTS" 0% Progress $100 20 0 0 [Hint:…

A: HDI = (Life expectancy index * education index * income index)^(1/3) Life Expectancy Index = (Life…